Funding round marks a pivotal moment for Screenverse as it aims
to accelerate DOOH advertising's programmatic future
NEW
YORK, April 30, 2024 /PRNewswire-PRWeb/ --
Screenverse, a monetization and ad management partner for DOOH
(digital-out-of-home) media owners, announced a $10.5 million investment led by Volition Capital.
This funding round marks a pivotal moment for Screenverse as it
aims to accelerate DOOH advertising's programmatic future.
The breadth and diversity of Screenverse's
network add tremendous value to advertisers seeking to reach unique
audiences programmatically.
Founded in 2020 by industry veterans David Weinfeld and Adam
Malone, Screenverse emerged at the height of the pandemic
while the advertising industry faced unprecedented challenges.
Weinfeld, with a background at Vistar, and Malone, from DOmedia,
recognized a powerful opportunity to empower media owners to
monetize their assets programmatically.
Screenverse's suite of services is tailored to meet the evolving
needs of DOOH media owners, offering end-to-end support in
programmatic advertising monetization and management. By
simplifying processes like ad operations, sales enablement, CPM
management, and deal & pricing optimization, Screenverse
enables media owners to maximize their revenue potential across the
entire DOOH ecosystem.
"We founded Screenverse with the vision of democratizing access
to programmatic budgets for DOOH networks of all shapes and sizes,
even those whose core business isn't advertising," said
David Weinfeld, CEO of Screenverse.
"Our mission is to simplify and optimize the advertising process
for media owners and advertisers alike, ultimately driving value
for all stakeholders in the ecosystem."
In addition to helping media owners maximize their success in
the programmatic channel, Screenverse is building the largest
network of digital screens in the physical world for advertisers.
Brands and advertisers can tap into Screenverse's extensive
inventory to reach consumers in highly impactful environments, from
a nationwide array of independent billboards to street-level
displays in busy urban areas and even inside top retailers such as
Walmart, Kroger, and 7-Eleven. With a network spanning nearly
90,000 screens across partners like TouchTunes, Pursuant Health,
theBulletin, Trailhead Media, and Smartify, Screenverse offers
advertisers unparalleled access to diverse audience segments,
making it a one-stop-shop for programmatic digital out-of-home
spend.
"Volition Capital's investment is a testament to the strength of
our vision and the potential we see in the DOOH advertising space,"
said Adam Malone, Co-Founder of
Screenverse. "With this support, we are well-positioned to continue
our mission of driving innovation and unlocking new opportunities
in programmatic DOOH."
The $10.5 million investment will
fuel Screenverse's continued growth and innovation. A key focus
will be on further enhancing its technology suite to better serve
media owners, providing access to all current and future
programmatic demand. Additionally, the investment will accelerate
team expansion, particularly in sales and supply partnership
roles.
"The breadth and diversity of Screenverse's network add
tremendous value to advertisers seeking to reach unique audiences
programmatically," said Larry Cheng,
Managing Partner at Volition Capital. "We are thrilled to lead this
investment round and support Screenverse in its mission to drive
value for media owners and advertisers alike."
About Screenverse
Screenverse is a leading monetization and ad management partner for
DOOH media owners, enabling them to unlock and scale programmatic
ad revenue. With an expansive DOOH media network base, including
billboards, urban panels, and retail environments, among others,
Screenverse has curated digital ad inventory networks that are
highly utilized across direct and programmatic buyers from
advertisers across the US. For more information, visit
https://screenversemedia.com
About Volition Capital
Volition Capital is a Boston-based
growth equity firm that principally invests in high-growth,
founder-owned companies across the software, Internet, and consumer
sectors. Founded in 2010, Volition has over $1.7 billion in assets under management and has
invested in and/or provided sub-advisory advice to more than 40
companies in the United States and
Canada. The firm selectively
partners with founders to help them achieve their fullest
aspirations for their businesses. For more information, visit
http://www.volitioncapital.com or follow us on Linkedin.
Media Contact
Peter Moran, Indicate Media,
(347) 880-2895, peter@indicatemedia.com, indicatemedia.com
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SOURCE Volition Capital; Screenverse